Q42003 results for If Skadeförsäkring

If P&C Insurance has today published its results for Q4 and full year 2003.

The strong development in If's results has continued through Q4. Total operating profit for If was SEK 842 million (loss of SEK 604 million) in Q4 and SEK 2,702 million (loss of SEK 2,080 million) in for the full year. (Numbers in brackets are for the corresponding period in 2002.)

Combined ratio was 99.0% (104.9%) in Q4 and 100.9% (106.1%) in for the full year.

Attached is If's full year report for 2003.

Storebrand has an ownership interest of 22.47% in If. If's contribution to Storebrand's group profit is NOK 104 million in Q4 (NOK 62 million) and NOK 324 million (loss of NOK 244 million) for the full year. Storebrand's share of If's profit is consolidated after tax, and adjustments are made to take account of differences between Norwegian and Swedish GAAP.
 
If will host a conference call today at 16.30 (CET). Please see www.if-insurance.com for details.
 
Storebrand will release its full results for the group on 18th February, at 08.30 (CET).
 

Contact persons If: <br> <br> Caroline Rosén <br> Head of Investor relations <br> Tel: +46 8 788 37 05 <br> Mobile: +46 070 589 0037 <br> <br> Elisabeth Wisén <br> Investor Relations <br> Tel: +46 8 788 24 28 <br> Mobile: +46 8 338 24 28 <br> <br> Contact persons Storebrand: <br> <br> Egil Thompson <br> Executive Vice President, Corporate Communications <br> Tel: + 47 22 48 95 86 <br> Mobile: + 47 93 48 00 12 <br> <br> Nils Robert Hodnesdal <br> Investor Relations <br> Tel: + 47 22 31 55 33 <br> Mobile: + 47 93 40 38 13